why does he come here to phoenix? well, phoenix, the m insists, is evidence of the progress that's been made. it's gone up about 30% from its bottom, but it's still about 40% from the peak in 2006. people in this area say a lot of the new housing purchases is due to investors, big-money investors who have been spending all cash, not to first-time home buyers, or more modest-income buyers. some of the obstacles that still exist for this president as he begins his remarks a short time from now. >> all right. peter alexander with the president in phoenix. thanks so much. let's turn now to our money man, dan gross from "newsweek daily beast." i want to start with you on the policy peter was laying out there, winding down fannie and freddie while trying to ensure the availability of 30-year fixed interest rate mortgages for citizens. also, there's been some indication there will be some focus on making sure that there's affordable rental units as well. so talk a little bit about this policy. is it effective? i'd also like